X-Bit Labs takes the Aquagate water cooling system for VGA for spin on a Geforce 8800 GTX:

"Thus, the liquid cooling system is inferior to the thermoelectric one. The difference in the GPU temperature is 6įC. Is the Aquagate Viva better than the reference cooler of the GeForce 8800 GTX? I guess it is, but the reference cooler works much quieter than the Viva while the minor reduction of temperature is unlikely to improve the graphics cardís overclockability.